BrightSpring Health Services’ (BTSG) Buy Rating Reiterated at BTIG Research

BTIG Research restated their buy rating on shares of BrightSpring Health Services (NASDAQ:BTSG) in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a $90.00 target price on the stock.

Other equities research analysts also recently issued research reports about the stock. UBS Group increased their target price on shares of BrightSpring Health Services from $63.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Wells Fargo & Company lifted their price target on shares of BrightSpring Health Services from $61.00 to $78.00 and gave the stock an “overweight” rating in a research note on Monday, July 13th. TD Cowen upped their price target on shares of BrightSpring Health Services from $65.00 to $81.00 and gave the company a “buy” rating in a report on Thursday, June 18th. Raymond James Financial initiated coverage on shares of BrightSpring Health Services in a research note on Thursday, July 9th. They issued an “outperform” rating and a $80.00 price objective for the company. Finally, Mizuho boosted their target price on BrightSpring Health Services from $52.00 to $61.00 and gave the company an “outperform” rating in a research report on Tuesday, May 5th. Two equities research analysts have rated the stock with a Strong Buy rating and eighteen have assigned a Buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $70.71.

BrightSpring Health Services Stock Performance

NASDAQ BTSG opened at $61.71 on Thursday. The company has a market cap of $12.21 billion, a P/E ratio of 37.17, a P/E/G ratio of 0.75 and a beta of 1.88. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.22 and a current ratio of 1.59. The business’s 50 day moving average price is $66.64 and its 200-day moving average price is $53.39. BrightSpring Health Services has a fifty-two week low of $22.36 and a fifty-two week high of $73.75.

BrightSpring Health Services (NASDAQ:BTSG) last released its quarterly earnings results on Friday, July 31st. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.05. The company had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.66 billion. BrightSpring Health Services had a return on equity of 16.73% and a net margin of 2.55%.BrightSpring Health Services’s quarterly revenue was up 23.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.22 EPS. Sell-side analysts predict that BrightSpring Health Services will post 1.78 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Lisa A. Nalley sold 35,000 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $58.75, for a total transaction of $2,056,250.00. Following the transaction, the insider directly owned 131,948 shares in the company, valued at approximately $7,751,945. This trade represents a 20.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jon B. Rousseau sold 130,000 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $58.75, for a total transaction of $7,637,500.00. Following the completion of the transaction, the insider directly owned 1,194,503 shares of the company’s stock, valued at $70,177,051.25. This trade represents a 9.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in BTSG. Man Group plc bought a new position in shares of BrightSpring Health Services in the 2nd quarter worth $4,926,000. Jupiter Topco LLC bought a new stake in BrightSpring Health Services during the second quarter valued at about $18,655,000. Hsbc Holdings PLC bought a new stake in BrightSpring Health Services during the second quarter valued at about $24,749,000. Canada Pension Plan Investment Board purchased a new position in BrightSpring Health Services in the second quarter valued at about $3,578,000. Finally, Castleark Management LLC purchased a new position in BrightSpring Health Services in the second quarter valued at about $14,815,000.

About BrightSpring Health Services

BrightSpring Health Services (NASDAQ: BTSG) is a leading provider of home and community-based care and workforce solutions aimed at seniors, individuals with disabilities and those facing behavioral health challenges. The company’s operations encompass a broad spectrum of services, including personal care, skilled nursing, therapy, habilitation and supported living, as well as specialized behavioral health programs delivered through both clinical and non-clinical channels.

Through its network of subsidiary brands, BrightSpring offers integrated care in the patient’s home environment, fostering independence and improving quality of life.